Zacks Research Boosts Earnings Estimates for Onto Innovation

Key Points

• Zacks Research raised its FY2028 earnings estimate for Onto Innovation to $9.44 per share from $9.40 and kept a Strong-Buy rating on the stock.
• Onto Innovation’s latest quarterly results beat expectations, with EPS of $1.42 topping estimates by $0.04, while revenue came in essentially in line and rose 9.5% year over year.
• Other analysts remain constructive on the semiconductor equipment maker, with several firms issuing or maintaining buy/overweight ratings and a consensus price target of $339.60.

Onto Innovation Inc. (NYSE:ONTO - Free Report) - Equities researchers at Zacks Research increased their FY2028 earnings estimates for shares of Onto Innovation in a research report issued on Wednesday, July 15th. Zacks Research analyst Team now forecasts that the semiconductor company will post earnings of $9.44 per share for the year, up from their previous estimate of $9.40. Zacks Research currently has a "Strong-Buy" rating on the stock. The consensus estimate for Onto Innovation's current full-year earnings is $7.14 per share.

Onto Innovation (NYSE:ONTO - Get Free Report) last posted its earnings results on Tuesday, May 5th. The semiconductor company reported $1.42 EPS for the quarter, topping the consensus estimate of $1.38 by $0.04. Onto Innovation had a net margin of 10.32% and a return on equity of 11.68%. The firm had revenue of $291.95 million for the quarter, compared to the consensus estimate of $292.00 million. During the same period in the prior year, the business posted $1.51 earnings per share. The business's quarterly revenue was up 9.5% on a year-over-year basis.

Several other equities research analysts have also weighed in on the company. Cantor Fitzgerald boosted their target price on Onto Innovation from $350.00 to $410.00 and gave the stock an "overweight" rating in a report on Monday, June 29th. Wall Street Zen raised shares of Onto Innovation from a "hold" rating to a "buy" rating in a research report on Saturday, May 9th. Evercore restated an "outperform" rating and issued a $315.00 price objective on shares of Onto Innovation in a research note on Friday, April 17th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Onto Innovation in a research note on Friday, June 5th. They issued a "buy" rating and a $350.00 target price on the stock. Finally, Stifel Nicolaus set a $350.00 target price on shares of Onto Innovation and gave the stock a "buy" rating in a report on Friday, April 17th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Onto Innovation presently has an average rating of "Buy" and a consensus price target of $339.60.

Onto Innovation Stock Performance

ONTO opened at $305.02 on Thursday. The company has a market cap of $15.17 billion, a PE ratio of 142.54, a price-to-earnings-growth ratio of 1.30 and a beta of 1.55. The stock has a 50-day moving average of $295.44 and a 200-day moving average of $245.67. Onto Innovation has a 52-week low of $89.40 and a 52-week high of $386.46.

Hedge Funds Weigh In On Onto Innovation

Institutional investors and hedge funds have recently bought and sold shares of the stock. CoreCap Advisors LLC acquired a new position in Onto Innovation during the 2nd quarter valued at $38,000. Harbor Investment Advisory LLC bought a new position in shares of Onto Innovation during the 2nd quarter worth about $47,000. Millstone Evans Group LLC raised its position in shares of Onto Innovation by 147.8% during the first quarter. Millstone Evans Group LLC now owns 166 shares of the semiconductor company's stock valued at $34,000 after buying an additional 99 shares during the last quarter. Transamerica Financial Advisors LLC raised its position in shares of Onto Innovation by 188.5% during the fourth quarter. Transamerica Financial Advisors LLC now owns 176 shares of the semiconductor company's stock valued at $28,000 after buying an additional 115 shares during the last quarter. Finally, Root Financial Partners LLC grew its holdings in shares of Onto Innovation by 71.2% during the 4th quarter. Root Financial Partners LLC now owns 178 shares of the semiconductor company's stock worth $28,000 after purchasing an additional 74 shares in the last quarter. Institutional investors own 98.35% of the company's stock.

Onto Innovation Company Profile

Onto Innovation NYSE: ONTO is a global supplier of advanced process control and inspection systems for semiconductor and electronics manufacturers. The company's solutions span metrology, inspection, defect review and lithography mask repair, helping customers optimize yield, reduce costs and improve device performance. By integrating high-resolution optical and e-beam tools with sophisticated software analytics, Onto Innovation enables wafer, mask and advanced packaging producers to maintain tight process control across leading-edge nodes and specialty applications.

Key products include high-throughput wafer metrology systems, optical and e-beam defect inspection platforms, mask inspection and repair tools, and data-driven software for yield management and process optimization.

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